Purchasing a new home is one of the biggest and most important investments you can make. After the expensive and time-intensive process of construction, the last issues a homeowner wants to deal with are unexpected malfunctions and costly repairs. At Annadel Builders Inc., we take special pride in creating finely crafted, sustainable homes that faithfully stand the test of time. Building on our core principles of trust, value, and quality, our team blends fine craftsmanship with innovative and beautiful design. Unfortunately, unexpected repairs can occur even under the best of circumstances and are never something you’re looking to deal with as a new homeowner. Purchasing a new home warranty, however, can help alleviate this stress by providing you with peace of mind and a solid contingency plan if and when you need it. We’ll answer some of the most common questions about new home warranties so you have the information you need to make the right decision for you!
How does a new construction home warranty work?
Home warranties are similar to an insurance policy for your home’s systems and appliances. They are designed to cover workmanship and materials-related components of a home such as windows, electrical, plumbing, heating, and air conditioning systems for a specified time frame following construction. Unlike an insurance policy, warranties are not designed to cover losses or damages incurred due to theft or natural disasters, but rather items that deteriorate because of normal wear and tear. Although the specifics of each warranty will vary, they will usually include flexible coverage options as well as explicit details regarding coverage and repair.
What does a new home warranty cover?
Different levels of coverage are possible. At the most basic level, coverage includes air conditioning, heating, electrical, and plumbing systems. Often, it will also include basic appliances such as the dishwasher, oven, garbage disposal, etc. Depending on the plan, new construction home warranties will include spring and fall tune-ups for a home’s heating and cooling system for the price of a small service call fee, usually $60-70.
What level of coverage do I need for my home warranty plan?
A big factor in the level of coverage you choose will depend on whether you have coverage for items under a manufacturer’s or builder’s warranty. For instance, you may already have an existing builder’s warranty that covers the cost of major structural repairs and systems replacement in your home, as well as manufacturers’ warranties for your major household appliances. Take the time to research exactly what level of coverage you lack before searching for a new home warranty that best matches your needs.
How do I make a home warranty claim?
First, carefully review your warranty or service contract to see if the damage is covered and if it occurred within the coverage timeframe. Then, follow the warranty guidelines to file a claim and a request a return receipt. Generally, your home warranty company will take care of hiring and sending a local contractor or mechanic out to your house to make the repair, but may require you to pay a small trade service fee.
What can cause a denial of payment?
While claims are usually resolved without contest, disputes over liability arise when the item in question appears to have been improperly maintained and/or installed, or subject to an unusual degree of wear and tear. In addition, plans will often contain claim charge limits. Check to see what amount your coverage plan offers as well as any stipulations surrounding repairs and replacements before finalizing your warranty purchase.